Am I still working on reviewing my trades? Yes. But today I allowed myself to papertrade the Tim Geithner announcement. I did a bunch of things correct: 1) waited until after the announcement - don't be in a trade during the announcement , 2) waited until some time after the initial announcement (to avoid some of the whipsaw right after the announcement), 3) entered a short of BAC shortly after it broke resistance (used 6.00), 4) trailed my stop down, 5) declined to add to my position (of 10 puts), just in case it reversed on me, and 6) declined to follow 1 minute charts and get scarred out of my trade on little reversals, stuck with 5, 10, and 15 minutes instead. At the end of the day I am up $200 with my puts. I decided to hold overnight - that may not have been good but we'll see in the morning. The nice thing about the trade today is that Tim made it easy - the market reacted so bad that I didn't have to worry to much that my stock (BAC) would make it back up to resistance. The BAC chart is starting to look like the Lehman brothers charts, as John Carter pointed out in last night's free video.
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